Right-sizing the American Dream

Market predictions are everywhere. Don't get me wrong, they definitely have their place. But the standard market predictions in real estate have been made much tougher for real estate pros and writers alike by all of the governmental toying. I'm not complaining -- my phone definitely rang more after the announcement of the 2009 tax credit for homebuyers. My point is just that all the government stimulus past, present and future (and the inevitable expiration thereof at some point in time) makes it tough to call exactly how this whole thing will shake out. But what we can predict are people, and human behavior. 2009 was the year of big, obvious behavioral-economics trends, especially in the real estate world. Here's where I think they'll go in 2010: 1. Sellers will be more realistic about pricing. The National Association of Realtors' 2009 Profile of Home Buyers and Sellers revealed that the average seller accepted a final purchase price around 95 percent of asking. About ...